Corning Incorporated (NYSE: GLW) on Sept. 28 announced it is expanding its longtime collaboration with AT&T (NYSE: T).
In a statement, the two companies said they will work together to extend investments in fiber infrastructure, expand U.S. broadband networks, and accelerate 5G deployment.
“We see expansion of our fiber infrastructure as central to the growth of our broadband reach, for consumers as well as business customers,” said Mo Katibeh, senior vice president, AT&T Network Infrastructure & Build. “By extending our collaboration with Corning, we’ll create American jobs through manufacturing investments, and also through the economic benefits that broadband brings to our communities.”
Based on AT&T’s long-term commitment to its network buildout, Corning said is investing $150 million in optical cable manufacturing in North Carolina, initially adding 200 jobs.
AT&T has previously announced plans to significantly expand its fiber footprint. The partners said this week's announcement spotlights AT&T’s commitment to meet that objective while supporting American manufacturing jobs.
Michael A. Bell, senior vice president and general manager, Corning Optical Communications, commented:
“The need for ubiquitous connectivity has pushed demand on networks to record levels, and Corning is strategically investing to support network buildouts. This capacity expansion in particular supports the growth plans of AT&T, who we’ve valued for more than three decades. We’re turning once again to the highly skilled local workforce in North Carolina to help us meet the demand. We deeply appreciate the support of local and state officials, particularly Governor Roy Cooper, Commerce Secretary Machelle Baker Sanders, and state lawmakers.”
The addition of U.S. manufacturing capacity significantly extends Corning’s market share, the company reckons, as demand for network infrastructure continues to exceed industry forecasts. "Government investments in broadband, now moving through the U.S. Congress and various states, are expected to further fuel the demand," added Corning's statement.
“As we celebrate Manufacturing Week in our state, it’s exciting to see a global manufacturer like Corning expand yet again in a great rural county like Catawba,” concluded North Carolina Governor, Roy Cooper. “Corning understands North Carolina’s strengths as a business location, thanks to their firsthand experience with our skilled workforce, customized training programs, and great quality of life.”